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Erste Group Bank AG
4th ERSTE Investors’ Breakfast
Ljubljana, Slovenia
Grand hotel Union
Miklošičeva cesta 1, Ljubljana
9th May 2016
Page
Erste Investors’ Breakfast - Ljubljana
AGENDA:
2
9:30 - 10:00 Welcome Reception
10:00 - 10:05 Opening Remarks
Stefan Dörfler, Head of Group Markets, Erste Group Bank AG
10:05 - 10:30 Macroeconomic Update - Slovenia
Alen Kovač, Head of Economic Research Department, Erste&Steiermärkische Bank d.d. Zagreb
10:30 - 11:00 MiFID II
Harald Mueller, Head of Group Fixed Income Trading, Erste Group Bank AG
11:00 - 11:15 Break
11:15 - 11:50 Round Table Discussion: „To raise or not to raise?“
Antun Burić, Deputy Head of Institutional Sales - SEE, Erste Group Bank AG (moderator)
Speakers:
Andrej Plos, CEO, Banka Sparkasse d.d.
Gottfried Ziniel, Senior Trader, Government Bond Trading, Erste Group Bank AG
Simon Sović, Director, FI/SSA/Corporate DCM Origination, Erste Group Bank AG
11:50 - 12:00 Closing Remarks
Manfred Neuwirth, Head of Group Markets Financial Institutions, Erste Group Bank AG
12:00 - 13:00 Refreshments
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Erste Group at a glance
CET 1 ratio (Basel 3, phased-in)
Total assets
Net profit
Key financials: YE 2015
• Founded in 1819 as the first Austrian savings bank
Total equity
Loan to deposit ratio
Operating result
3
12.3%
EUR 199.7bn
EUR 968.2mn
EUR 14.8bn
98.4%
EUR 2.9bn
Credit rating BBB+ / Baa2
Page
Erste Group is well positioned in Europe
Warsaw
Istanbul
Belgrade
Zagreb
Budapest
Bratislava Paris
Austria
Position: No. 1
Clients: 3.4m
Corp.Loans: 17.7%
Serbia
Position: No. 10
Clients: 0.4m
Corp.Loans: 2.8%
Hungary
Position: No. 3
Clients: 0.9m
Corp.Loans: 5.6%
Vienna
London
Prague
Berlin
Stuttgart
Romania
Position: No. 1
Clients: 3.0m
Corp.Loans: 17.9%
● Top corporate bank in CEE:
Ø 17% market share
● > 19.8bn loans outstanding
with large corporate customers
● TOP position in DCM:
> 11% market share
in AUT & CEE Bucharest
Erste Group core markets (i.e. full banking operations incl. aff iliates)
Additional investment banking target countries
Branches and distribution off ices
Cooperation
Partner in Spain
Position: No. 3
Clients: 12.9m
Cooperation Partner
Barcelona
Czech Republic
Position: No. 1
Clients: 4.8m
Corp.Loans: 18.6%
Slovak Republic
Position: No. 1
Clients: 2.4m
Corp.Loans: 10.9%
Croatia
Position: No. 3
Clients: 1.1m
Corp.Loans: 15.7%
New York
North America
Hong Kong
Asia
4
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Steiermärkische Sparkasse Group
7 markets, 6 411 employees, 2.4 MN customers, € 14,4 BN assets
Sparkasse Slovenija
• Assets: € 1.088 MM
• Customers: 46.759
• Employees: 212
Sparkasse B&H
• Assets : € 596 MM
• Customers : 108.552
• Employees : 475
Sparkasse Makedonija
• Assets : € 284 MM
• Customers : 56.700
• Employees : 328
Erste&Steiermärkische Bank Hrvatska
• Assets : € 8.933 MM
• Customers : 861.444
• Employees : 2131
Erste Srbija
• Assets : € 1.000 MM
• Customers : 377.537
• Employees : 1069
Erste Bank AD Podgorica
• Assets : € 369 MM
• Customers : 79.837
• Employees : 238
5
Page
Source: Central banks of countries, Erste research, International monetary fund, World Bank, European commission
end of year 2015
Countries Population
(in mn) GDP (in bn eur)
GDP YoY
GDP 2016f
GDP (2009-2015)
Public debt (% of GDP)
Public debt 2016f (% of
GDP)
Government budget balance
Inflation (avg)
Unemployment
Credit Rating (S&P/
Moody's)
Croatia 4,2 43,5 1,6% 1,5% -12% 87,3% 89,6% -4,4% -0,50% 16,7% BB / Ba2
Slovenia 2,1 38,5 2,9% 1,9% -4% 83,4% 82,0% -2,9% 0,50% 9,3% A- / Baa3
Serbia 7,2 33 0,7% 1,5% -0,5% 73,2% 74,2% -3,7% 1,70% 17,9% BB- / B1
Bosnia and Herzegovina
3,8 13,9 2,5% 3,0% 4% 44,2% 44,6% -2,3% -0,50% 27,7% B / B3
Albania 3,1 10,3 2,7% 3,4% 16% 72,0% 71,0% -4,8% 0,20% 17,7% B+ / B1
Macedonia 2,1 8,8 3,0% 3,5% 14% 40,2% 41,5% -3,6% 0,40% 27,5% BB- / BB+
(Fitch)
Kosovo 1,9 5,6 3,2% 3,8% 19% 21,4% 25,4% -2,0% -0,50% 35,0% -
Montenegro 0,6 3,6 3,9% 4,2% 6% 65,1% 70,0% -6,5% 1,50% 17,5% B+/ Ba3
6
SEE Macroeconomic Figures
Page
SEE Financial Institutions Sector end of year 2014/2015
Source: Central banks of countries
*Others – including investment funds, factoring companies etc.
7
Countries Assets (in
bn eur) Banks Insurance
Pension Funds
Leasing Others
Croatia 75,6 70,70% 6,90% 13,70% 3,30% 5,40%
Slovenia 56,7 71,30% 12,33% 2,60% 6,20% 7,57%
Serbia 27 92,00% 5,20% 0,70% 2,00% 0,10%
Bosnia and Herzegovina
13 87,13% 4,86% - 2,62% 5,39%
Albania 11,8 92,00% 1,60% 0,10% 0,70% 5,60%
Macedonia 7,2 87,60% 3,30% 6,40% 1,40% 1,30%
Kosovo 4,3 70,80% 3,10% 23,20% - 2,90%
Montenegro 3,5 88,50% 4,30% 7,10% - 0,10%
SEE Financial Institutions Sector
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> 20 years of proven expertise
EUR 201.4 bn assets under custody
35% market share in international institutional custody
> 2,500 institutional clients
direct Clearstream's sub-custodian for Austrian market
market coverage: > 60 markets worldwide
SSEG
Austria
GlobalCustodian Awards
BEST RATED CUSTODIAN IN AUSTRIA 11 years in a row
(2004-2015)
“BEST BANK AGENT – BANK NETWORK IN MAJOR MARKETS”
(2015)
8
Securities Services Erste Group (SSEG)
Page
Group Financial Institutions › Sales Contacts - SEE
Jaromir Malak
Head of Institutional Sales - CEE & International
Tel: +43 501 00 84254
Antun Burić
Deputy Head, Institutional Sales, SEE Head of Financial Institutions, Croatia
Tel: +43 664 88756436
Tel: +385 99 237 2439
Željko Pavičić
South Eastern Europe Sales Associate
Tel: +385 72 37 1494
Ivan Jelavić
South Eastern Europe Sales Senior Associate
Tel: +385 72 37 1707
9
Manfred Neuwirth
Head Group Markets
Financial Institutions Tel: +43 501 00 84251
manfred.neuw [email protected]
Z
A
G
R
E
B
V
I
E
N
N
A
Valentina Krivec
Junior Account Manager Tel: +385 72 37 1504
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Round Table Discussion
› To raise or not to raise?
10
Gottfried
Ziniel
Andrej
Plos
Simon
Sovic
Antun
Burić
Page
Euro Area Interest Rate
11
The ECB left its benchmark refinancing rate
on hold at a record low of 0.0% on April 21st
2016, following a 5bps cut in the previous
month and in line with market forecasts.
Rates are expected to stay at present or
lower levels for an extended period of time,
President Mario Draghi said.
The asset purchase programme was kept at
€80 billion a month but the central bank said
will start buying corporate bonds in June.
Interest Rate in the Euro Area averaged
2.23 percent from 1998 until 2016, reaching
an all time high of 4.75 percent in October of
2000 and a record low of 0 percent in March
of 2016.
The risks to the euro area growth outlook still
remain tilted to the downside.
Looking ahead, on the basis of current
futures prices for energy, inflation rates could
turn negative again in the coming months
before picking up in the second half of 2016.
Thereafter, supported by our monetary policy
measures and the expected economic
recovery, inflation rates should recover
further in 2017 and 2018.
Page
Q & A
12
Gottfried
Ziniel
Andrej
Plos
Simon
Sovic